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Republic Industries To Sell Six Saturn Dealerships To Manufacturer

5 December 1997

Republic Industries To Sell Six Saturn Dealerships To Manufacturer

    FORT LAUDERDALE, Fla., Dec. 5 -- Republic Industries, Inc.
announced today that it has signed definitive agreements to sell
six Saturn dealerships that it had acquired earlier this year to the Saturn
Corporation.
    The dealerships to be sold include Saturn of Orlando, Saturn of
Orlando/South and Saturn of Orlando/Osceola, all part of the Courtesy Auto
Group of Longwood, Florida, and Saturn of Tempe, Saturn of Scottsdale, and
Saturn of Glendale, all part of Grubb Automotive of Phoenix, Arizona.
    According to Steven R. Berrard, President and Co-Chief Executive Officer
of Republic, "The Saturn dealerships were acquired as part of the larger
acquisitions of the Grubb and Courtesy groups.  We decided to sell the
dealerships to Saturn because the Saturn brand is not part of our strategy to
develop retail clusters in major markets around the United States."
    It is expected that once the sale closes, the Saturn Corporation will
operate the six dealerships as company-owned locations with executive managers
that Saturn appoints.  Employees at the six dealerships are expected to become
Saturn employees, with no loss of jobs anticipated as a result of the sale.
    Republic Industries, Inc. is the largest automotive retailer in the world.
The company also owns and operates the National and Alamo auto rental
companies and several other auto rental companies, as well as solid waste
collection and disposal companies across the United States.

SOURCE  Republic Industries, Inc.